Which of the Following Accounts Has a Debit Balance

question 125

Multiple Choice

Which of the following accounts has a debit balance?

• A)Accounts Payable.
• B)Unearned Revenue.
• C)Service Revenue.
• D)Salaries Expense.

---

Definitions:

Fundamental Breach

A severe violation of a contract that permits the hurt party to terminate the agreement and possibly seek damages.

Restraint Of Trade

Any activity or agreement that restricts competition or the free operation of the market, often regulated or prohibited by law.

Consumer Transaction

A deal or agreement between a seller and a buyer for the purchase of goods or services for personal, family, or household use.

Exemption Clause

A contractual term that limits the liability of one of the parties under certain circumstances or for specific types of damages.